Dublin, Jan. 29, 2024 (GLOBE NEWSWIRE) -- The "Remote Sensing Technology for Agriculture Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The global market for remote sensing technology in agriculture is poised for substantial growth, as indicated in a newly published research report. With a projected increase from $1.82 billion in 2023 to an estimated $2.76 billion by 2028, this sector is undergoing rapid expansion at a compound annual growth rate (CAGR) of 8.6%. This growth underscores the significant transformations occurring within the industry, driven by technological advancements and strategic collaborations.
The burgeoning market is attributed to several key factors that include the progressive integration of Geographic Information System (GIS) applications, sophisticated image processing techniques, and evolving unmanned aerial vehicle (UAV) deployment. Groundbreaking advancements within the Internet of Things (IoT) have also fostered a more robust agricultural landscape, leveraging sensor technology and network connectivity to refine farming operations and enhance data-driven decisions. The forecast period is marked by heightened sustainable agriculture practices and continuous government investments, aimed at boosting precision agriculture techniques and improving satellite imaging services.
Noteworthy trends predicted to shape the future of this dynamic market encompass the formidable rise of big data analytics in agriculture, the continued expansion of IoT applications, and persistent endeavors within precision agriculture. Emerging strategic partnerships form another significant trend as they endeavor to evolve agricultural technology and practices. These alliances assist in global monitoring of agricultural conditions and facilitate regenerative agricultural objectives, ultimately aiming at boosting farm productivity and environmental sustainability.
The market report details that North America, having held the most significant regional market share in 2023, continues to lead the charge, along with substantial contributions from other regions including Asia-Pacific, Western Europe, Eastern Europe, South America, the Middle East, and Africa.
Within the agricultural remote sensing sector, key market components such as hardware, software, and services have played vital roles. These components have been instrumental in applications that transcend yield monitoring, field mapping, and crop scouting, expanding to intricate functions like weather tracking, irrigation management, and farm labor management, amongst others.
The report compositions incorporate a comprehensive analysis of the remote sensing technology for agriculture market. It presents a meticulously researched outlook of the current market status, projected growth, regional dynamics, and future potential within the industry. Furthermore, the detailed segmentation and insights into the market trends and opportunities equip stakeholders with the critical data necessary to navigate the evolving agricultural landscape.
Ultimately, this remote sensing technology for agriculture market research report serves as an invaluable resource, offering an exhaustive analysis for industry professionals, investors, policymakers, and participants eager to understand and capitalize on the opportunities within this flourishing global market.
- Market Forecast: Comprehensive insights on the projected market growth up to 2028.
- Technological Advancements: A deep dive into the evolution of GIS, UAVs, image processing, and IoT.
- Strategic Partnerships: Analysis of recent collaborations aimed at scaling agricultural practices and sustainability.
- Regional Analysis: An exhaustive geographical breakdown showcasing North America's dominance and opportunities in other key regions.
- Industry Components: A detailed investigation into market components that include an array of applications impacting agricultural operations.
A selection of companies mentioned in this report includes
- Yara International ASA
- Koch Ag & Energy Solutions
- Coromandel International Limited
- Agriculture Solutions Inc.
- Hafia Groups
- Sapec Agro S.A
- Kugler Company
- ICL Group Ltd.
- Honeywell International Inc.
- Green Peak Technologies LLC
- ABB Ltd.
- Kheti Buddy Pvt. Ltd.
- Trimble Inc.
- Eastern Peak Ltd.
- PrecisionHawk Inc.
- Deere & Company
- Ag Leader Technology
- Raven Industries Inc.
- Topcon Corporation
- AgJunction Inc.
- SST Software BV
- The Climate Corporation
- Iteris Inc.
- Taranis Inc.
- Gamaya
- MicaSense Inc.
- TerrAvion Inc.
- Descartes Labs
- CropX Technologies Inc.
- Granular Inc.
For more information about this report visit https://www.researchandmarkets.com/r/nfgoq1
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